Chamber Applauds Mayor Emanuel's Infrastructure Revitalization Plan
City announces $7 billion ‘Building a New Chicago’ program
At a press conference today Mayor Emanuel announced a $7 billion, three year infrastructure program aptly titled “Building a New Chicago”. The program is considered one of the largest investments in infrastructure in Chicago’s history.
The plan will focus on almost every aspect of the city’s infrastructure such as roads, railroads, parks, buildings and bridges.
“Our plans are comprehensive because our needs are comprehensive -- because no city in America relies on its infrastructure more than Chicago,” Mayor Emanuel said.
“While our infrastructure challenges are not unique, our resolve and determination to see them through is. I look forward to rebuilding our city’s infrastructure so we may continue to lead in the 21st century.”
In addition to improving the city’s infrastructure, the program can create an estimated 30,000 jobs over three years, all without increasing taxes.
Mayor Emanuel expressed that funding was “secured” and that, “None of these funds will come from raising new taxes.” Apparently, many of the projects are funded through reforms, efficiencies, cuts in central offices, direct user fees, and the recently announced Chicago Infrastructure Trust.
The improvements in Building a New Chicago will include:
• Renovation, repair, or rebuilding of more than 100 CTA stations